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Sap business-one-budgets

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September 14, 2010 presentation for our LBSi SAP Business One User Group. Learn how to setup and use budgets in SAP Business One version 8.8. For more information www.lbsi.com

September 14, 2010 presentation for our LBSi SAP Business One User Group. Learn how to setup and use budgets in SAP Business One version 8.8. For more information www.lbsi.com

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  • 1. Long Business Systems, Inc. (LBSi) LBSI is a technology services firm that understands technology is a tool that enables you to grow profitably, outpace the competition and provide better service to your customers. Cleveland – Columbus – Cincinnati - Pittsburgh
  • 2. LBSi Whistle Stop Tour Topic: Budgets Presented by: Vicki Smith The SAP Budget module helps manage and track revenues and expenses. Main Objectives: Input data to create a financial forecast Keep spending on track Uncover hidden cash flow issues Compare actual revenues and expenses against budget
  • 3. Budget Settings Define your budget settings in the General Settings window. Go To: Administration > System Initialization > General Settings > Budget tab 1. Check the Budget Initialization box 1. Automatically checks all Profit & Loss accounts as Relevant to Budget 2. Other accounts can be manually checked in the Chart of Accounts 2. For a Document that Deviates from the Budget Recommend to start out at Without Warning or Warning 3. Specify the following data if you selected Warning or Block Deviation Manage by Annual or Monthly Budgets amounts Purchase Orders – checks against budget when a PO is issued Goods Receipt PO – Checks against budget when a PO receipt is created Accounting – checks against budget when an AP invoice or other accounting transaction is performed
  • 4. Budget Authorizations Review user authorizations for access to the Budget functions Go to: Administration > System Initialization > Authorizations > General Authorizations Review and set Authorizations under Financial > Budget Set up
  • 5. Budget Distribution Methods Use Budget Distribution methods to automatically divide the budget over the months of the year Go To: Financials > Budget Setup > Budget Distributions Methods SAP Business One automatically adds the following three (3) common methods 1. Equal – distributes the budget equally over the months of the year 2. Ascending Order – distributes the budget in an ascending order, increasing amounts over the year 3. Descending Order – distributes the budget in an descending order, reducing amounts over the year Add your own method such as Seasonal by selecting Data > Add or clicking the in the top toolbar Specify the desired data in the Budget Distribution Methods – Setup Window
  • 6. Budget Scenarios Define your forecast for the company in the Budget Scenario. Your defined scenarios will be used for reporting and displaying your forecasted company position in relation to your Budget Scenario. Go To: Financials > Budget Setup > Budget Scenarios Define scenarios to be assigned to a budget year. In the top tool bar select Data > Add Row or right click in the window and choose Add Row, then specify data in the table and choose Update You can define more than one budget for a year such as: Main Budget, Optimistic Budget, Pessimistic, Cash Flow Import Budget Scenarios function allows you to import budgets from other companies Note: make sure your G/L accounts match in the source and target companies Copy Budget Scenarios functions allows you to copy or duplicate budgets within a company
  • 7. Defining the Budget Prerequisites: These items must be done prior to entering budget 1. Budget Initialization option selected in settings, 2. Distribution methods defined 3. Budget scenarios created Define your budget: Go To: Financials > Budget Setup > Budget Select G/L Accounts to budget, Scenario and choose OK The window displayed will show accounts that have a budget assigned to them. Enter the Debit or Credit amount to be budgeted for each account Note: If you have not created a previous budget, you will not see all of your accounts. To view all: click on Display Accounts with no Budget Click on Update to save your changes.
  • 8. Budget Reports After entering your budget, you are ready to run reports Go To: Financials > Financial Reports > Budget Reports Enter selection criteria and run reports Compare your budget to your actual amounts Reports Menu: 1. Budget Report 2. Balance Sheet Budget Report 3. Trial Balance Budget Report 4. Profit & Loss Budget report
  • 9. Summary Thank you for taking time to participate in the SAP Business One User Group meeting. Please take a few minutes to give us feedback of the meeting and any suggestions for going forward. We are always looking for new clients to work with. And we'd like to find more like you - companies that are engaged, smart, and focused on their future. Can you help us out?
  • 10. Tour Wrap Up Questions & Answers Schedule for next Stops: Tues., Sept. 21, 2010 –Key Financial Indicators, Time: 2:00 – 3:00 pm Tues., Oct 12th - SAP 8.8 cool features Tues., Nov. 16th - Writing Basic Queries
  • 11. Long Business Systems, Inc. (LBSi) Cleveland – Columbus – Cincinnati – Pittsburgh Questions: Vicki Smith Senior Consultant Email: vicki@lbsi.com Phone: 440-846-8500 Ext. 22 www.lbsi.com